US Markit Flash Composite PMI Feb P: 58.8 (prev 58.7)

US Markit Flash Manufacturing PMI Feb P: 58.5 (est 58.5; prev 59.2) - Services PMI Feb P: 58.9 (est 57.6; prev 58.3) - Composite PMI Feb P: 58.8 (prev 58.7)


Markit January flash Composite PMI upticks slightly as manf comes down a bit, services up a bit. Service sector growth the strongest since March 2015, with firms often reporting higher activity as
virus-related restrictions were partially eased and inflows of new business picked up, notably among
domestic customers. The slower manufacturing growth was often blamed on extreme weather and existing widespread supply shortages. Supplier delays hit a record high during the month.  Prices continued to press upward with the quickest rises on input and selling prices in a decade (in the history of the survey in the case of selling prices).  This makes that Philly survey on selling prices falling even more an outlier. Backlogs increased while employment stabilized, but stayed at high levels, particularly for manf. Outlooks were also near highs although pulled back a bit.

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